Kolkata: Four mainboard initial public offerings (IPOs) are opening for subscription on October 15. The public issues of Zetwerk, Bonfiglioli Transmissions, Tonbo Imaging India and Sahajanand Medical Technologies aim to raise a combined amount of more than ₹8,873 crore.
The four IPOs differ in their issue sizes, price bands, minimum investment requirements and offer structures. While Zetwerk’s issue includes both fresh shares and an Offer for Sale (OFS), the other three offerings consist entirely of shares being sold by existing shareholders. Here is a look at the key details, investment requirements and latest reported grey market premiums (GMPs) for each IPO.
1. Zetwerk IPO: Price Band, Lot Size and GMP
The Zetwerk IPO is a book-built issue worth ₹5,012.33 crore. It comprises 18.75 crore fresh equity shares worth ₹2,830 crore and an OFS of 14.45 crore shares valued at ₹2,182.33 crore.
The company has fixed the price band at ₹143–₹151 per share. Retail investors must apply for a minimum lot of 99 shares, requiring an investment of ₹14,949 at the upper end of the price band.
Kotak Mahindra Capital is the book-running lead manager, while KFin Technologies has been appointed as the registrar.
Zetwerk IPO GMP: According to InvestorGain, the latest reported grey market premium stands at ₹19. Based on the upper price band of ₹151, the estimated listing price would be ₹170, indicating a potential gain of 12.58%.
However, GMP is an unofficial market indicator that can fluctuate and does not guarantee the actual listing price or any profit.
2. Bonfiglioli Transmissions IPO: Issue Size and GMP
The Bonfiglioli Transmissions IPO is valued at ₹2,533.66 crore and consists entirely of an Offer for Sale of 4.32 crore shares. Since the issue is an OFS, the proceeds will go to the selling shareholders rather than the company.
The company raised ₹759.26 crore from anchor investors ahead of the public offering. The anchor investor list included BlackRock, Goldman Sachs Asset Management and Abu Dhabi Investment Authority.
The IPO price band is ₹558–₹586 per share. Retail investors can apply for a minimum of 25 shares, taking the minimum investment to ₹14,650 at the upper price.
Axis Capital is the book-running lead manager, and MUFG Intime India is the registrar.
Bonfiglioli Transmissions IPO GMP: InvestorGain reports a grey market premium of ₹181. At the upper price band of ₹586, this suggests an estimated listing price of ₹767 and a potential listing gain of 30.89%. These figures are indicative and may change before listing.
3. Tonbo Imaging India IPO: Price Band and Expected Listing Gain
Tonbo Imaging India’s IPO is worth ₹852.18 crore and comprises an OFS of 1.22 crore shares. The defence electronics company raised ₹255.36 crore from anchor investors before the issue opened for public subscription.
The price band has been set at ₹665–₹700 per share. Retail investors must apply for at least 21 shares, which means a minimum investment of ₹14,700 at the upper end of the price band.
JM Financial is managing the issue as the book-running lead manager, while KFin Technologies is the registrar.
Tonbo Imaging India IPO GMP: According to InvestorGain, the reported GMP is ₹500. Based on the upper price band of ₹700, the estimated listing price stands at ₹1,200, suggesting a potential listing gain of 71.43%.
Among the four IPOs, Tonbo Imaging India has the highest indicative listing gain based on the reported GMP figures. However, grey market estimates are unofficial and should not be treated as a reliable prediction of listing performance.
4. Sahajanand Medical Technologies IPO: Investment Details and GMP
The Sahajanand Medical Technologies IPO is valued at ₹475.48 crore. The issue is entirely an Offer for Sale comprising 1.38 crore shares. The company, which manufactures cardiac stents, raised ₹140 crore from anchor investors ahead of the public issue.
The price band has been fixed at ₹327–₹344 per share. Retail investors must apply for a minimum of 43 shares, requiring an investment of ₹14,792 at the upper price.
Motilal Oswal Investment Advisors is the book-running lead manager, and MUFG Intime India is the registrar.
Sahajanand Medical Technologies IPO GMP: InvestorGain reports a grey market premium of ₹38. At the upper price band of ₹344, the estimated listing price would be ₹382, indicating a potential gain of 11.05%.
As with the other issues, the reported GMP is only an unofficial indicator and does not assure investors of a listing gain.
Important Dates for All Four IPOs
The key dates provided for the Zetwerk, Bonfiglioli Transmissions, Tonbo Imaging India and Sahajanand Medical Technologies IPOs are as follows:
- Subscription opens: October 15
- Subscription closes: October 19
- Allotment: October 21
- Refunds: October 22
- Shares credited to demat accounts: October 22
- Expected listing date: October 23
Investors should review the official offer documents for the final issue details, eligibility requirements and applicable dates before applying.
Disclaimer: This article is intended for informational purposes only and should not be considered financial or investment advice. It does not recommend subscribing to or avoiding any IPO, or buying or selling shares, mutual funds, precious metals, commodities, REITs, InvITs, alternative investment products or crypto assets. Grey market premiums are unofficial, may change without notice and do not guarantee listing prices or returns. Investors should conduct independent research and assess their financial goals and risk tolerance before making investment decisions.